Compliance

Two bills that would boost protections for consumers taking out PACE home-improvement loans are headed to Gov. Jerry Brown’s desk after passing the Legislature.

Compliance experts and CU execs outline changes they still hope the Consumer Financial Protection Bureau will make, even as the rule's implementation date approaches.

Picking a new benchmark for adjustable-rate mortgages is the easy part. Industrywide implementation is where things get tricky.

PHH Corp. will pay the Justice Department $75 million to settle a False Claims Act investigation of its underwriting practices on government-insured mortgages and loans sold to Fannie Mae and Freddie Mac.

National Credit Union Administration Chairman J. Mark McWatters said dropping Consumer Financial Protection Bureau oversight of credit unions would free up CFPB resources.

The Trump administration's Justice Department was expected to be less aggressive in its pursuit of False Claims Act cases against the mortgage industry. Instead, its focus has shifted to Federal Housing Administration-insured reverse mortgages.

Financial firms say the database is unreliable and would like to see it removed from public view. But the industry would also lose access to competitive insights that can be gleaned from the massive trove of consumer complaints.

East Chicago, Ind., residents again are pushing for more oversight in the cleanup efforts at the U.S.S. Lead Superfund site, as plans are being circulated on the demolition of the West Calumet Housing Complex.

Fay Servicing will pay $1.15 million in borrower restitution and possible disgorgement to settle CFPB allegations that it engaged in so-called foreclosure dual tracking and failed to keep borrowers informed about loss mitigation efforts.

HSBC has fulfilled its obligation under the National Mortgage Settlement and will no longer be monitored for compliance.